Nokia drops OZO VR camera production | Infrastructure | News

The slower-than-expected development of the virtual reality (VR) market has resulted in Nokia Technologies announcing that it was ending support for its OZO range of VR cameras and hardware.

Just as it appeared that the growing VR industry could be a way for the Finnish technology firm to make a comeback after its once mighty mobile phone business endured a huge fall from grace, the company has embarked on a move that it says will enable it to focus on patent, brand and technology licensing and cash in on faster growth in digital health. The Nokia Technologies unit aims to halt development of further versions of the OZO VR camera and hardware, while maintaining commitments to existing customers.

“Nokia Technologies is at a point where, with the right focus and investments, we can meaningfully grow our footprint in the digital health market, and we must seize that opportunity,” said Gregory Lee, president of Nokia Technologies. “While necessary, the changes will also affect our employees, and as a responsible company we are committed to providing the needed support to those affected.”

The news comes after the company was ramping up sales of the technology. In April 2017, Nokia announced a partnership with end-to-end streaming service engine provider Qello to produce a monetisation platform for all VR and 360° video content through its OZO camera and OZO live demand system.